The management of data and information technology for many different purposes has gone back to the ancient times of computer technology. IT management, data management, information management, and strategic information management are all closely linked and intrinsically related. This paper is a tentative description of the broad range of objectives, functions, and practice associated with the management of data and information.
Data and information are an integral part of any organization. The management of data and information includes the responsibility to determine what the data will be used for, who will use it, how the data will be used, the security of the data and information, what will happen with the data and information once it has been analyzed, and what additional information needs to be added. All of these processes are part of the process of data and information management. In business, data and information are often used to make important decisions. Data and information are part and parcel of business activities such as strategy planning, market research, product development, customer management, employee management, financial decision-making, supply chain management, government programs, and social science and educational research.
An effective data and information management system must meet the unique organizational requirements of each unique business or industry. Organizations face significant constraints in their ability to collect and manage reliable and consistent data and information. Processes must be carefully designed to enable the collection, storage, processing, administration, and dissemination of data and information. These procedures must also be based on the procedures that have been developed to assure the confidentiality of data and information. In some cases, organizations may have operational needs for the electronic collection, storage, processing, administration, and dissemination of data and information; however, the nature of the business activities and the organization’s special needs determine what types of information systems are required.
A definition of data quality defines the importance of data collection. The definition also defines what “data” is. “Data” is any set of unprocessed information or facts that an individual collects, records, uses, prepares, analyzes, or reads in a situation in which it is necessary or relevant. This information is then stored and/or processed so that it can be used to provide information to an individual, an agency, or a committee. Information stored or processed in this way is called data. Collection of data is usually done in several different ways and at different times.
Data assets are those resources or items that an organization needs to effectively conduct business activities. These may include hardware, software, information technology, networking, and telecommunications. Some data assets are expensive such as computers and printed materials while others are less expensive such as shipping supplies and inventory. These data assets, collectively, constitute the total inventory of the business that is managed by the management team.
A company’s information asset management system provides information on the availability and usability of data. This data management system also provides management teams with important information regarding performance of the business. Data and information technologies aid in the management of data assets. This helps managers to make informed decisions regarding the utilization, disposal, and sharing of data and information that are important to the management.
The value of data and information stewards are crucial to a business’ operational ability to achieve its objectives. Without the implementation of a sound system to manage the use of data and information, the managers would not be able to make informed decisions regarding the use and access to data and information that are crucial to company operations and growth. Managers must therefore be skilled in conducting proper research and analysis to determine how to best use the available data and information in the most cost effective manner possible. They must also have the skills, knowledge, and expertise to implement and develop policies and procedures to effectively manage the use of data and information by their staff, by the customers, and by other stakeholders.
Data and information management systems help managers to address a number of critical business challenges by helping them manage, collect, store, access, and process data that are vital to business operations. These systems have helped businesses to become more profitable, provide better services and products to their customers, and improve internal management functions. Businesses that successfully leverage the capabilities of a data and information management system will enjoy numerous benefits. Chief among these benefits is the reduction of overhead expenses and management costs. Businesses that take advantage of these benefits will experience significant improvements in their profit margins and organizational efficacy.